Geode Capital Management LLC Buys 41,322 Shares of Affiliated Managers Group, Inc. $AMG

Geode Capital Management LLC lifted its stake in Affiliated Managers Group, Inc. (NYSE:AMG) by 8.1% during the fourth quarter, HoldingsChannel reports. The firm owned 551,153 shares of the asset manager’s stock after purchasing an additional 41,322 shares during the period. Geode Capital Management LLC’s holdings in Affiliated Managers Group were worth $158,916,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMG. Balyasny Asset Management L.P. grew its holdings in shares of Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock worth $61,271,000 after purchasing an additional 303,423 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Affiliated Managers Group in the third quarter worth about $70,356,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Affiliated Managers Group by 28,466.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 193,392 shares of the asset manager’s stock worth $58,240,000 after purchasing an additional 192,715 shares during the last quarter. UBS Group AG grew its holdings in shares of Affiliated Managers Group by 97.4% in the third quarter. UBS Group AG now owns 350,212 shares of the asset manager’s stock worth $83,501,000 after purchasing an additional 172,771 shares during the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Affiliated Managers Group by 151.5% in the third quarter. Holocene Advisors LP now owns 253,935 shares of the asset manager’s stock worth $60,546,000 after purchasing an additional 152,982 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. The Goldman Sachs Group restated a “buy” rating and issued a $405.00 price target on shares of Affiliated Managers Group in a report on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and issued a $365.00 price objective on shares of Affiliated Managers Group in a research note on Monday, April 27th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $454.00 price objective on shares of Affiliated Managers Group in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $362.29.

Affiliated Managers Group Stock Up 0.6%

NYSE:AMG opened at $312.54 on Thursday. Affiliated Managers Group, Inc. has a 1-year low of $179.04 and a 1-year high of $334.78. The company has a 50-day moving average of $292.88 and a 200 day moving average of $292.95. The firm has a market cap of $8.25 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 0.52 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.79 and a quick ratio of 1.79.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $8.23 earnings per share for the quarter, topping analysts’ consensus estimates of $8.10 by $0.13. The company had revenue of $544.90 million during the quarter, compared to analyst estimates of $544.01 million. Affiliated Managers Group had a net margin of 35.55% and a return on equity of 20.17%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.37 earnings per share. As a group, research analysts anticipate that Affiliated Managers Group, Inc. will post 34.71 EPS for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Monday, May 11th. Affiliated Managers Group’s dividend payout ratio is presently 0.16%.

Insider Buying and Selling at Affiliated Managers Group

In other Affiliated Managers Group news, Director David Christopher Ryan sold 3,402 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $305.06, for a total transaction of $1,037,814.12. Following the completion of the sale, the director directly owned 1,092 shares of the company’s stock, valued at approximately $333,125.52. This represents a 75.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kavita Padiyar sold 2,200 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $278.24, for a total transaction of $612,128.00. Following the sale, the general counsel directly owned 42,672 shares of the company’s stock, valued at approximately $11,873,057.28. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 14,602 shares of company stock valued at $4,240,522. 2.90% of the stock is currently owned by corporate insiders.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE: AMG) is a global asset management holding company that partners with boutique investment firms. Founded in 1993 and headquartered in West Palm Beach, Florida, AMG invests in and collaborates with independent investment managers to foster growth while preserving their entrepreneurial culture. Through equity stakes and strategic support, the company aims to enhance its affiliates’ distribution capabilities, operational infrastructure and access to capital.

The company’s core business activities include providing capital solutions, distribution services and operational support to affiliated investment firms.